Tamarack Valley Energy (TSE:TVE) Reaches New 52-Week High - Time to Buy?

Shares of Tamarack Valley Energy Ltd (TSE:TVE - Get Free Report) reached a new 52-week high on Friday . The company traded as high as C$4.35 and last traded at C$4.29, with a volume of 1866046 shares traded. The stock had previously closed at C$4.15.

Wall Street Analysts Forecast Growth

TVE has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an "outperform" rating in a research note on Friday. Raymond James raised Tamarack Valley Energy to a "hold" rating in a research note on Thursday, October 17th. CIBC lifted their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an "outperform" rating in a research report on Friday. BMO Capital Markets raised Tamarack Valley Energy from a "market perform" rating to an "outperform" rating in a research note on Friday, October 4th. Finally, National Bankshares upped their price target on shares of Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of "Moderate Buy" and a consensus target price of C$5.23.

Tamarack Valley Energy Stock Up 2.7 %

The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. The business has a 50 day moving average price of C$3.97 and a 200 day moving average price of C$3.84. The firm has a market capitalization of C$2.32 billion, a P/E ratio of 18.48 and a beta of 2.49.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$382.98 million for the quarter. Tamarack Valley Energy had a return on equity of 5.94% and a net margin of 8.66%. On average, analysts predict that Tamarack Valley Energy Ltd will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0125 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Thursday, October 31st. Tamarack Valley Energy's dividend payout ratio (DPR) is currently 65.22%.

Insider Buying and Selling at Tamarack Valley Energy

In other news, Senior Officer Christine Ezinga bought 13,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of C$3.99 per share, with a total value of C$51,870.00. In the last quarter, insiders acquired 28,173 shares of company stock worth $107,945. 1.32% of the stock is currently owned by insiders.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.